Fun-RS Gold If we reach a point where the U.S. has lowered its debt, the deflationary effects will be felt globally, "said Tim Schroeder, who helps manage $ 1 billion in PENGANA Capital Ltd. in Melbourne." Many credit are sold bonds denominated in U.S. and these effects will be felt around the world. "
About five shares fell for each that gained MSCI Asia Pacific Index. Japan Nikkei 225 Stock Average fell 1.4 percent and Toyota Motor Corp. fell 3 percent.
Chip Gains
CNOOC Ltd. dropped 2.2 percent and BHP Billiton Ltd. sank 1.8 percent after the retreat of commodity prices yesterday. Newcrest Mining Ltd. slipped 1 percent, while Australia's largest gold mining company cut its production forecast for the second time.
LG Display Co. rose 6 percent after the world's second-largest maker of flat screens has been a loss that was below analysts' estimates. Renesas Electronics Corp. and Elpida Memory Inc. tumbled more than 4.6 percent each, the loss of stimulation between the companies related to computer chip Texas Instruments Inc. after the revenue forecast for the second quarter and income did not reach some analysts' estimates.
Texas Instruments fell in extended trading after the largest maker of analog chips projected surplus in the current quarter will be 52 cents to 60 cents per share on sales of 3.41 billion to 3.69 billion . That compares with analysts' average estimate of 63 cents in profit on $ 3.53 billion in sales, according to a Bloomberg survey. Goldman Sachs Group Inc. and Johnson & Johnson are among the companies must publish quarterly results today.
U.S. Outlook
rs gold is my favorite S & P 500 slumped 1.1 percent yesterday, its steepest loss since March 16 S & P said that one in three chance that the rating of the United States can be cut in two years and that the his "basic assumption" that Congress and the Obama administration record in terms of a plan to reduce the deficit.
The yield on the benchmark 10-year Treasury was little changed at 3.37 percent after declining three basis points yesterday. Yoshihiko Noda Japan's finance minister said the debt of the United States remains an "attractive investment" and economic and fiscal policy, Kaoru Yosano, the minister said the Treasury would be "high production values," even if the rating was reduced.
Japan's performance benchmark 10-year half-point basis fell to 1.24 percent, while the future of 10-year bond futures for June delivery gained 0.23 to 139.59 on the Tokyo Stock Exchange, which extending their winning streak longer than eight months.
"Fearing 'Market
"It's really about how long the market can stay the fears of Europe and America," said Adam Carr, a senior economist in Sydney at ICAP Australia Ltd., a unit of global inter-dealer . "Risk aversion usually involves a recovery of funds for the yen."
The won fell 0.4 percent to 1,092.40 per dollar, while the new kiwi weakened 0.8 percent to 78.46 U.S. cents. Taiwan dollar weakened 0.2 percent to NT $ 29.153 and the Australian dollar fell to $ 1.0466 $ 1.0509 from yesterday.
The yen traded at 82.39 per dollar from 82.66 yesterday in New York, where he rose to 82.19, the highest since March 29. Japan's currency was at 117.20 per euro from 117.66. The dollar bought $ 1.4226 per euro from $ 1.4235.
Purchasing Managers' index of manufacturing activity in the euro zone fell to 57.0 in April against 57.5 in March, according to the median estimate of economists in a Bloomberg News survey before the data from TODAY 'hui due. Readings over 50 indicate expansion.
Greek crisis
Yields on two-year notes Greek hovered above 20 percent yesterday and the credit-default swaps signal a 64.5 percent chance of default within five years, as officials said the nation restructuring is not under discussion. Portuguese and two 10-year rates also reached record-Euro era.
S & P GSCI Index of 24 raw materials fell 0.2 percent, extending yesterday down 1.2 percent. Oil for May delivery fell 0.5 percent $ 106.63 a barrel on the New York Mercantile Exchange yesterday, 2.3 per cent drop.
Gold for immediate delivery fell 0.3 percent to $ 1,490.53 an ounce, after hitting a record U.S. $ 1,497.90 yesterday. Copper for delivery in three months rose 0.3 percent to $ 9,250 per tonne on the London Metal Exchange, ending six days, or 6.6 percent of the crisis. Wheat rose 0.7 percent to $ 8.16 a bushel, extending yesterday's 3.9 percent increase, that the conditions for winter crops in the U.S., the largest exporter has deteriorated.
- With the help of Candice Zachary Sydney, Yoshiaki Nohara, Tokyo, Masaki Kondo and Ron Harui and Wes Goodman in Singapore. Editor: James Poole Cheap Cartier Trinity Rings
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